I have both a 1st gen M&P (.40, but it'll have the same trigger mechanism) and an M&P 2.0 in 9mm. So I'll weigh in a bit.
Grip texturing - I've grown to appreciate the M&P 2.0's texture. That thing is not going to slip like the 1st gen can. If you find it too aggressive, it can be taken down with a careful touch up from 600 to 1,000 grit sand paper. Knock the high/coarse spots down until you're happy. I actually had to do that under the trigger guard with my 1st Gen M&P - while dry firing it started to rub the first knuckle of my middle finger raw. I have not felt the need to change the texturing of the 2.0 YMMV.
I intend to get an M&P 2.0 backstrap for my 1st Gen M&P. I've already tried, it will fit.
As far as the trigger goes, the M&P 2.0 has a long uptake, but a pretty good wall and break from the factory. I could have happily lived with it, but I put an apex kit in it just to see what it did. I also have an Apex trigger kit in my 1st Gen M&P and it's leagues ahead of the 2.0 - even with an Apex trigger installed in the M&P 2.0 as well. There's far less slack to take up on the 1.0, a more firm wall, better more crisp break, and shorter reset.
My example of an M&P 2.0 does have front cocking serrations. I've gotten a little spoiled with regard to those and enjoy having them around. It's also cut for a red dot.
I like both guns and don't intend to get rid of either. All of that said, if I had to choose between the two I would sooner sell off my M&P 2.0 and continue to modify my 1st Gen M&P. The M&P 40 won't be going anywhere.
I'm more than a little tempted to pick up a second slide for the M&P 40 and see about having it cut for an optic and maybe getting some front serrations cut into it. Just so I can keep the original slide as-is and have an easy swap to a 'fun slide' for range day.
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